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Contributor
cam006
Posts: 133
Registered: ‎04-07-2008
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X-post: Working my way out of sub-prime cards

I am trying to work my way out of sub prime into prime cards and I have a few questions.  Right now I have Cap 1 #1 with a 300 limit, Cap1#2 with a 500 limit, orchard/ cap 1 with a 700 limit, Merrick back with a 500 limit, Premier bank with a 250 limit and some store cards Target 200 limit, Dress Barn 500 limit and Crown Jewlers with 500 limit.  since I've let these age for a few years and keeping payments up to date I went on an app spree to try for some new cards so I can fire some of the ones I have.  I recently got approved for the R Us card (tried for Toys R Us Visa) 600, Children's Place 500, Discover Motivita for 1000 and waiting on the BJ's wearhouse Visa.  I want to fire Premier ASAP.  I have another Card that's older so I won't lose on the age of the account. But I'm not sure if I should do it now or wait a few months since I just got new credit.  I also want to swap out one of the sub prime cap 1's for a better card, but I don't know how to do that.  Any ideas, advice?  Right now only cards with a balance are R Us and Children's Place.

7/11/08: EQ: 635, TU: 658, EX: 607
10/10: TU 634, EQ 626, Ex 626
9/14/2012: TU 622, EQ 660
10/16/2012: TU 731, EQ 706 - finally on my way!
Valued Contributor
jamesdwi
Posts: 1,530
Registered: ‎09-16-2011
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Re: X-post: Working my way out of sub-prime cards


cam006 wrote:

I am trying to work my way out of sub prime into prime cards and I have a few questions.  Right now I have Cap 1 #1 with a 300 limit, Cap1#2 with a 500 limit, orchard/ cap 1 with a 700 limit, Merrick back with a 500 limit, Premier bank with a 250 limit and some store cards Target 200 limit, Dress Barn 500 limit and Crown Jewlers with 500 limit.  since I've let these age for a few years and keeping payments up to date I went on an app spree to try for some new cards so I can fire some of the ones I have.  I recently got approved for the R Us card (tried for Toys R Us Visa) 600, Children's Place 500, Discover Motivita for 1000 and waiting on the BJ's wearhouse Visa.  I want to fire Premier ASAP.  I have another Card that's older so I won't lose on the age of the account. But I'm not sure if I should do it now or wait a few months since I just got new credit.  I also want to swap out one of the sub prime cap 1's for a better card, but I don't know how to do that.  Any ideas, advice?  Right now only cards with a balance are R Us and Children's Place.


Closing cards doesn't hurt your AAoA, closed cards will continue to report for the next 10 years. Go ahead and put first premie out to pasture. What is your UTL, your score seems a bit low for having cards that are a few years old. Any baddies, like charge offs or Bankruptcy, recent lates in the last 2 years? 

 

 


Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Contributor
cam006
Posts: 133
Registered: ‎04-07-2008
0

Re: X-post: Working my way out of sub-prime cards

No CO's, BK's.  Had like 2 lates last year.  One when Merrick took over what used to be Hooters Card and there was some confusion about where to send the payment which got to them 2 days late and with Premier when they changed my due date to the 28th and I had been paying on the 1st of every month.  The most recent late is 7 almost 8 months ago.  My utilization was at about 29% but everything is paid down now.  I plan to pay the store cards down when they arrive.  My score starting taking an unexplained dip last year.  I think it was because I didn't really carry any balances and then charged a few things on 3 cards and paid double the minimum but carried a balance, but I'm not sure. 

7/11/08: EQ: 635, TU: 658, EX: 607
10/10: TU 634, EQ 626, Ex 626
9/14/2012: TU 622, EQ 660
10/16/2012: TU 731, EQ 706 - finally on my way!
Valued Contributor
jamesdwi
Posts: 1,530
Registered: ‎09-16-2011
0

Re: X-post: Working my way out of sub-prime cards

try calling up merrick and getting them to remove the late because there was confusion on where to send the payment since its partially there fault and you have been a good customer they may remove it, if calling doesn't work you can write a letter.  You may want to get rid of any card that has an AF, but be sure to keep two MC. Visa, MC, AMEX open most prime credit card companies want to see two open bank cards for a year+, Pay your cards before the statement cuts, leaving one card with 1-9% reporting for the best fico score.  I would suggest you garden untill your lates are a year old and your UTL is less than 9%, then apply for something prime hopefully your score is over 650 by then. 


Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: X-post: Working my way out of sub-prime cards


cam006 wrote:

I am trying to work my way out of sub prime into prime cards and I have a few questions.  Right now I have Cap 1 #1 with a 300 limit, Cap1#2 with a 500 limit, orchard/ cap 1 with a 700 limit, Merrick back with a 500 limit, Premier bank with a 250 limit and some store cards Target 200 limit, Dress Barn 500 limit and Crown Jewlers with 500 limit.  since I've let these age for a few years and keeping payments up to date I went on an app spree to try for some new cards so I can fire some of the ones I have.  I recently got approved for the R Us card (tried for Toys R Us Visa) 600, Children's Place 500, Discover Motivita for 1000 and waiting on the BJ's wearhouse Visa.  I want to fire Premier ASAP.  I have another Card that's older so I won't lose on the age of the account. But I'm not sure if I should do it now or wait a few months since I just got new credit.  I also want to swap out one of the sub prime cap 1's for a better card, but I don't know how to do that.  Any ideas, advice?  Right now only cards with a balance are R Us and Children's Place.


your FICO is pretty low for a couple of lates as your only baddies. I would suggest that you stop getting store CCs. The  number of cards has probably sunk your AAOA, affecting your FICO. 

 

You said that you've paid down your util, but to what % util? And what's reporting? Even if youPIF by due date, the stmt still cuts with a bal and that's also affecting your FICO. For the highest fico, pay all your CCs so that the stmt cuts with zero bal and one cc reports under 10% util of that card's CL (NOT of your total CL). Thenrecheck your FICO. Hopefully you'll see an increase. 

 

Closing a cc isn't going to hurt your FICO, but it's not going to help either. It may be better at this point for CCs to see open, active pos tls reporting rAther than closed ones. That said, I would keep your cap ones open for now and close Premier, which probably had AF. 

 

Unfortunately your cap ones aren't going to go anywhere. It might be a goodidea to call some local CUs and see if any of them will help you to establish credit. Even if they start you with a lower CL, at least it will grow-unlike cap one.

 

Beyond that, I think you just need togarden and STOP getting cards. Your stuck in toy limit heck right now. You can't app your way out of there. All you can do is garden and CLI. Then when your scores and CLs are high enough, you'll be able to get some good prime CCs with good CLs. 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: X-post: Working my way out of sub-prime cards


jamesdwi wrote:

cam006 wrote:

I am trying to work my way out of sub prime into prime cards and I have a few questions.  Right now I have Cap 1 #1 with a 300 limit, Cap1#2 with a 500 limit, orchard/ cap 1 with a 700 limit, Merrick back with a 500 limit, Premier bank with a 250 limit and some store cards Target 200 limit, Dress Barn 500 limit and Crown Jewlers with 500 limit.  since I've let these age for a few years and keeping payments up to date I went on an app spree to try for some new cards so I can fire some of the ones I have.  I recently got approved for the R Us card (tried for Toys R Us Visa) 600, Children's Place 500, Discover Motivita for 1000 and waiting on the BJ's wearhouse Visa.  I want to fire Premier ASAP.  I have another Card that's older so I won't lose on the age of the account. But I'm not sure if I should do it now or wait a few months since I just got new credit.  I also want to swap out one of the sub prime cap 1's for a better card, but I don't know how to do that.  Any ideas, advice?  Right now only cards with a balance are R Us and Children's Place.


Closing cards doesn't hurt your AAoA, closed cards will continue to report for the next 10 years. Go ahead and put first premie out to pasture. What is your UTL, your score seems a bit low for having cards that are a few years old. Any baddies, like charge offs or Bankruptcy, recent lates in the last 2 years? 

 

 


YES!!!!!!!!!!!!!!!!!!!!

 

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
jsucool76
Posts: 2,819
Registered: ‎12-11-2011
0

Re: X-post: Working my way out of sub-prime cards


LS2982 wrote:

jamesdwi wrote:

cam006 wrote:

I am trying to work my way out of sub prime into prime cards and I have a few questions.  Right now I have Cap 1 #1 with a 300 limit, Cap1#2 with a 500 limit, orchard/ cap 1 with a 700 limit, Merrick back with a 500 limit, Premier bank with a 250 limit and some store cards Target 200 limit, Dress Barn 500 limit and Crown Jewlers with 500 limit.  since I've let these age for a few years and keeping payments up to date I went on an app spree to try for some new cards so I can fire some of the ones I have.  I recently got approved for the R Us card (tried for Toys R Us Visa) 600, Children's Place 500, Discover Motivita for 1000 and waiting on the BJ's wearhouse Visa.  I want to fire Premier ASAP.  I have another Card that's older so I won't lose on the age of the account. But I'm not sure if I should do it now or wait a few months since I just got new credit.  I also want to swap out one of the sub prime cap 1's for a better card, but I don't know how to do that.  Any ideas, advice?  Right now only cards with a balance are R Us and Children's Place.


Closing cards doesn't hurt your AAoA, closed cards will continue to report for the next 10 years. Go ahead and put first premie out to pasture. What is your UTL, your score seems a bit low for having cards that are a few years old. Any baddies, like charge offs or Bankruptcy, recent lates in the last 2 years? 

 

 


YES!!!!!!!!!!!!!!!!!!!!

 

 


+1

Wallet: Capital One Quicksilver 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 3000CL, Walmart Discover: 3500CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 2600CL, Bank Of America Student Travel Rewards: 2700CL, Amex PRG
Contributor
cam006
Posts: 133
Registered: ‎04-07-2008
0

Re: X-post: Working my way out of sub-prime cards

I think my updated scores didn't show in my siggy. My scores are 660 EQ and 622 TU. I have student loans that have been rehabbed and paid on time for the last 6 years. Per CR I have 14 years of history. I also have a redeemed repo from 2005 that I recovered the car and paid the loan in full. I also have a mortgage that opened in 2008 that refi'd under just my hubby so it shows pif never late for 2 years. Sorry I didn't give all the details just focused on learning how to fire these sub prime cards. I am definitely getting rid of Premier. I'll see if I can convince Merrick to drop the late. But what should my next step be? I plan to let the remaining cards age ( this is my first time apping in a year and even then I only apped for one card) so all other cards are 3 + years old. I don't want to paint the picture that I'm loading up on store cards. I got them to build points I can use since I shop there and plan to pif whenever I use them.
7/11/08: EQ: 635, TU: 658, EX: 607
10/10: TU 634, EQ 626, Ex 626
9/14/2012: TU 622, EQ 660
10/16/2012: TU 731, EQ 706 - finally on my way!
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: X-post: Working my way out of sub-prime cards


jsucool76 wrote:

LS2982 wrote:

jamesdwi wrote:

cam006 wrote:

I am trying to work my way out of sub prime into prime cards and I have a few questions.  Right now I have Cap 1 #1 with a 300 limit, Cap1#2 with a 500 limit, orchard/ cap 1 with a 700 limit, Merrick back with a 500 limit, Premier bank with a 250 limit and some store cards Target 200 limit, Dress Barn 500 limit and Crown Jewlers with 500 limit.  since I've let these age for a few years and keeping payments up to date I went on an app spree to try for some new cards so I can fire some of the ones I have.  I recently got approved for the R Us card (tried for Toys R Us Visa) 600, Children's Place 500, Discover Motivita for 1000 and waiting on the BJ's wearhouse Visa.  I want to fire Premier ASAP.  I have another Card that's older so I won't lose on the age of the account. But I'm not sure if I should do it now or wait a few months since I just got new credit.  I also want to swap out one of the sub prime cap 1's for a better card, but I don't know how to do that.  Any ideas, advice?  Right now only cards with a balance are R Us and Children's Place.


Closing cards doesn't hurt your AAoA, closed cards will continue to report for the next 10 years. Go ahead and put first premie out to pasture. What is your UTL, your score seems a bit low for having cards that are a few years old. Any baddies, like charge offs or Bankruptcy, recent lates in the last 2 years? 

 

 


YES!!!!!!!!!!!!!!!!!!!!

 

 


+1


+11, :smileywink:



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
New Contributor
ItchyAppFingers
Posts: 96
Registered: ‎07-31-2012
0

Re: X-post: Working my way out of sub-prime cards

Definitely fire First Premier! having $250 of a cl with them you don't want to be paying for a $179 AF + additional fees. :smileysurprised:
My Current Plastic: {Amazon Store Card} {Amazon Visa} {Amex Zync} {Amex Gold PRG} {Amex BCE} {Bloomingdales} {BOA 123 Cash Rewards} {Capital One Platinum Visa} {Chase Freedom Visa} {Discover IT} {Kohls} {Macy's} {Nordstrom} {SonyCard Visa} {Target RedCard}

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